Mortgage Home Loan Rates at BB&T Shoot Up on January 27, 2014

The North Carolina based mortgage lender, Branch Banking and Trust (NYSE: BBT), chose to publish higher lending rates for its standard and refinancing home loan deals on January 27, 2014. The potential home buyers, who are looking forward to have their new home investment financed from BB&T, will have to deal with increased benchmark 30 year fixed mortgage interest rates this Monday.

Today, as per the new mortgage charts published by the mortgage lender, the standard, long term, 30 year fixed rate mortgage home loan plans are coming out at an interest rate of 3.750% and are backed by an annual percentage rate of 3.891% today. For the borrowers, who find 30 years to be a quite long period for home loans and aren’t happy with the interest rates, the bank offers its popular, 15 year fixed rate mortgage home loan deals at an interest cost of 4.375% and an APR yield of 4.896%.

In the exclusive lending division, the customers can find the midterm, 20 year fixed rate mortgage home loan packages published in the bank’s books against a lending charge of 3.375% and an APR yield of 3.983%. However, the shortest, 10 year fixed rate mortgage home loan deals are carrying an interest tag of 3.750% and are backed by an annual return equivalent to 4.415% today.

For the borrowers who are interested in acquiring the best refinancing options, BB&T publishes its popular 30 year fixed rate mortgage home loan schemes in its loan portfolio at an interest price of 3.750% and an APR yield of 3.891%. However, in the short term lending division, the prospective borrowers can find the ideal 15 year refinancing FRM home loans trading at an interest cost of 4.375% and an APR yield of 4.896%.

The bank is currently offering its midterm, 20 year refinancing fixed rate home loan deals at an interest rate of 3.375%, which come along with an annual percentage rate of 3.983% today. On the other hand, the shortest, 10 year refinancing fixed rate home loan packages are now dealt at an interest cost of 3.750% and an APR yield of 4.415%.

The mortgage rates quoted by banks are often affected by the change in the price of mortgage backed financial securities, which follow the stock market movements closely. However, as the stock market lost its ground by the end of the trading day and published the DJIA index at a lower mark of 15337.70, BB&T chose to part its way from the stock market and quoted its mortgage rates independently. Irrespective of mortgage rates, the stock price of BBT shares ticked up by +1.13% and closed at a new price mark of 35.72. 

Disclaimer: The advertised rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the quotes.

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About the author

Rob is a analyst and reporter covering stocks and business news.